Chevy Chase Trust Holdings LLC Trims Stock Position in Dover Co. (NYSE:DOV)

Chevy Chase Trust Holdings LLC trimmed its stake in Dover Co. (NYSE:DOV) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,380 shares of the industrial products company’s stock after selling 664 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Dover worth $14,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOV. AdvisorNet Financial Inc increased its position in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Dover in the fourth quarter valued at approximately $33,000. Life Planning Partners Inc acquired a new stake in shares of Dover in the fourth quarter valued at approximately $35,000. Headinvest LLC purchased a new position in shares of Dover during the third quarter worth approximately $32,000. Finally, Northwest Financial Advisors acquired a new position in shares of Dover in the 4th quarter valued at $36,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 1.2 %

Shares of DOV stock traded up $2.09 during mid-day trading on Wednesday, hitting $177.22. 328,435 shares of the company’s stock were exchanged, compared to its average volume of 993,097. The stock has a market cap of $24.36 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.14 and a beta of 1.22. The stock has a 50-day simple moving average of $181.14 and a two-hundred day simple moving average of $169.84. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $188.64. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $1.94 earnings per share. Dover’s revenue was up .7% on a year-over-year basis. Equities analysts expect that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is currently 19.60%.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOV shares. Wells Fargo & Company increased their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Mizuho boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.75.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.